Canada’s fossil-fuelled pensions

The British Columbia Investment Management Corporation is the steward of BC’s public pensions, but bankrolls companies whose current business models exceed the climate change targets agreed to in the Paris Agreement to which Canada is a signatory.

The pensions of over 500,000 British Columbians and assets worth $135 billion are managed by the Corporation—-one of Canada's largest consolidated pools of wealth. This report asks if the Corporation is investing funds in ways that support the shift to a 2°Cglobal warming limit. The authors found that the Corporation's claim of responsible investment is more talk than walk as its actions are not consistent with the risks posed by climate change. Instead of curbing investments to align with the Paris Agreement, many of the Corporation’s oil and gas investments are on the rise.